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December 4th, 2015

VIDEO: The benefits of selling over the holidays

Many people try to avoid listing their home during the holidays — but why? Today, we have three reasons why selling in the winter months is actually a great idea:

  1. Most homes show better during the holidays. Homes that have seasonal directions have an emotional appeal. Buyers already buy on emotion, and Christmas decorations only add to that.
  2. Buyers are serious. If a buyer is looking during the holidays, which we can all agree are quite hectic with Christmas shopping and family events, that buyer is pretty serious about making their move.
  3. The lack of inventory removes competition. Plenty of sellers are ready to sell, but are waiting until the spring to list their homes. You have a better chance to capture a buyer during this time because competition is so much lower.

If you have any questions about the specific market conditions in your neighborhood, please don’t hesitate to reach out to us. We would love to hear from you!

November 27th, 2015

VIDEO: We Want to Say Thanks!

Today, we just wanted to take a minute to thank you for your business and referrals!

We all have a lot to be thankful for this Thanksgiving season. I’m thankful for you all! After all, referrals, in addition to repeat business, keep us going. We’re eternally grateful for that.

So, from my family to yours, we wish you a very happy Thanksgiving! We look forward to talking to you soon!

November 23rd, 2015

VIDEO: The market today in Myrtle Beach

Today, I’ll share some data from October with you. Good news! The data reveals we’re in a healthy, balanced market.

Let’s look at single family homes. We’re at a 6.5 month supply of inventory. We have 4,000 homes for sale regionally. In fact, 610 alone were closed last month! That’s 15% of the entire inventory sold.

Compared to last year, we’ve seen a 4% home price increase. Likewise, units are up 18%. The excess demand is met by current construction. This helps maintain a healthy balance. Even though homes are selling quickly, we have brand new homes entering the market.

Additionally, there is an eight-month supply of condominiums available. Although the inventory is down, condo sales overall have increased by 4% compared to last year.

If you’re looking to sell a property, let’s talk! Please reach out and give me a call.

November 20th, 2015

VIDEO: Is It Better to Wait to Make an Offer on a Property?

Today, I’m answering a question that I recently received from a buyer: “Should I wait to make an offer on a new listing? I love the property, but it just came on the market.” The truth is, if you want the property, there’s no real reason to wait.

Now, you don’t know the motivation of the seller. If you’re a pure investor and you’re trying to get this property at 20% below market, then obviously the seller is unlikely to accept that offer on a two-day-old listing.

If you’re making a fair offer because you know the market and you’ve constructed the offer based on comparable sales, a good listing agent will be able to give the facts to their seller. Hopefully, the listing agent can get your offer accepted, or at least get you a good counter offer.

In my opinion, there’s no reason to wait on making an offer on a new listing. Now, is it possible you could get a listing that languishes on the market for 60, 90, or 120 days on the market for a little bit less? Yes. But if it’s a good listing and the property is priced fairly, it’s not going to last that long.

Ultimately, if you like the property and you’ve done your homework, then don’t wait. Make the offer immediately.

If you have any questions, please don’t hesitate to reach out to me. I would be happy to help you!

October 29th, 2015

VIDEO: How to Win your Dream Home in Myrtle Beach

The Grand Strand real estate market is heating up. If you’re buying a home and you’re in a bidding war, you’re going to need to have the strongest purchase offer available. I’ll go over five ways in which you can strengthen your offer.

  1. You have to bring your best offer. You might need to overpay a little bit if you’re really in love with a property.
  2. Get pre-approved and show the seller your letter from the bank. If you want to look good in the eyes of a seller, this is almost mandatory. Nobody wants to sell a home to someone that can’t prove that they can afford to buy it. This makes you nearly as good as a cash buyer.
  3. Put a minimum of 20% down if you can, and pay cash if you can. The odds are that your competitors aren’t paying cash, so this would definitely make you stand out.
  4. Remove all of the contingencies that you can live without. You can’t remove financing if you’re getting a loan, but you can remove things like inspections and warranties. Sellers like to see an offer that they don’t have to bend over backwards for.
  5. Be flexible to the needs of a seller.Often the best purchase offer is the one that satisfies the seller’s needs. Offering a lot of money is great, but if you can satisfy other needs for a seller, you’ll be golden.

If you have any further questions or concerns about how to win a bidding war, please don’t hesitate to reach out to me.

I look forward to hearing from you!

October 20th, 2015

VIDEO: Be Careful, Zillow Could Derail Your Myrtle Beach Home Sale

Zillow is a giant in the real estate industry. They aggregate tons and tons of data, and a lot of it is actually quite useful to the average consumer, but you need to take some of it with a grain of salt.

One thing in particular that you need to watch out for is the Zestimate, which is Zillow’s valuation of your home. How accurate is that value that Zillow places on your home?

On average, these Zestimates are off by 5-15%. A 15% difference on a $300,000 home is a matter of $45,000! It has also been stated that nearly every home value on the website is off by at least 5% or more. This is a huge margin of error.

I’ve even seen some homes on Zillow with prices that were nearly 20% off! That’s inexcusable.

These estimates work well with communities that have similar homes, but with mixed communities like we have here in Myrtle Beach, it’s hard for Zillow’s algorithms to place accurate values on homes. Some homes may sit next to a highway and they’ll be valued the same as a home next to a cornfield with a great view.

I don’t recommend anyone to use the Zillow Zestimate as a true market value. Always talk to a Realtor when you’re pricing a home or putting an offer on a home.

If you truly want to know the value of your Myrtle Beach home, please don’t hesitate to contact me. I would be very happy to assist you!